New data shows that bitcoin miners are continuing to hodl

Something different is happening this time around in terms of the bitcoin bull market.

Normally miners are the largest net sellers, but lately they've been doing something different.

They've been hodling!

Check out the latest data:

(Source: https://twitter.com/DocumentingBTC/status/1387775913534926854/photo/1)

This is very interesting compared with previous bull markets as they were net sellers for most of the bull market.

I wrote about this the other day and why this is possibly happening, but it most likely has to do with a couple things...

Most likely miners have more confidence then ever before that bitcoin isn't going away.

Plus they have more and better options to hedge their bitcoin using options and futures contracts.

This allows them to hodl more than they ever have, which in time should help the price go up.

Bitcoin has all the makings for at least one more major moon shot that goes significantly higher.

My guess is $100k by end of July...

We shall see!